BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Cyan, Inc. ("Cyan” or "the Company") (NYSE: CYNI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Ciena Corporation (“Ciena”).
Click here to learn more about the investigation http://brodsky-smith.com/928-cyni-cyan-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Cyan shareholders will receive only cash and stock consideration equal to the value of 0.224 shares of Ciena common stock for each share of Cyan stock they own. The transaction values Cyan stock at only approximately $4.75 per share. The investigation concerns whether the Board of Cyan breached their fiduciary duties to shareholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ciena is underpaying for Cyan. The transaction may both undervalue Cyan and would result in a substantial loss for many holders of Cyan stock. For example, on May 9, 2013, the same day as the Company’s initial public stock offering, Cyan stock traded at $11.27 per share.
If you own shares of Cyan and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/928-cyni-cyan-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.